Algeria Prohibits All Cryptocurrency Activities, Including Ownership and Mining

The Algerian government has enacted a ban on all forms of cryptocurrency transactions within the country, a move aimed at safeguarding financial and economic stability. The prohibition encompasses the possession, trading, and even mining of digital currencies, with strict penalties imposed on violators. Algerian officials believe that these currencies pose a risk to the national economy due to their volatile nature and the potential for their use in illicit activities such as money laundering and terrorist financing. This decision arrives amidst a growing global trend towards regulating cryptocurrencies, with many countries seeking to establish laws and procedures to mitigate the risks associated with them. While some argue that this measure restricts technological innovation and investment opportunities, Algerian officials emphasize that protecting the national economy takes precedence.